TCP Capital Corp.’s (TCPC) “Buy” Rating Reiterated at Keefe, Bruyette & Woods
TCP Capital Corp. (NASDAQ:TCPC)‘s stock had its “buy” rating restated by Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They presently have a $18.00 price target on the investment management company’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 8.70% from the company’s current price.
Several other equities research analysts also recently weighed in on TCPC. Zacks Investment Research raised TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. National Securities reaffirmed a “neutral” rating and set a $17.00 price target on shares of TCP Capital Corp. in a research report on Thursday, May 11th. BidaskClub downgraded TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Deutsche Bank AG raised TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.38.
Shares of TCP Capital Corp. (NASDAQ TCPC) traded up 0.06% during mid-day trading on Tuesday, hitting $16.56. The company had a trading volume of 209,012 shares. TCP Capital Corp. has a 1-year low of $15.33 and a 1-year high of $17.47. The company has a 50-day moving average price of $16.79 and a 200-day moving average price of $16.96.
TCP Capital Corp. (NASDAQ:TCPC) last released its earnings results on Tuesday, May 9th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. TCP Capital Corp. had a return on equity of 12.48% and a net margin of 58.13%. The firm had revenue of $39.34 million for the quarter, compared to the consensus estimate of $38.75 million. On average, analysts forecast that TCP Capital Corp. will post $1.53 EPS for the current year.
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In related news, Director Brian F. Wruble purchased 10,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $16.63 per share, with a total value of $166,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $332,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Global X Management Co. LLC raised its stake in TCP Capital Corp. by 49.8% in the first quarter. Global X Management Co. LLC now owns 7,578 shares of the investment management company’s stock valued at $132,000 after buying an additional 2,520 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in TCP Capital Corp. during the first quarter valued at about $420,000. Shelton Capital Management purchased a new stake in TCP Capital Corp. during the first quarter valued at about $523,000. Nationwide Fund Advisors raised its stake in TCP Capital Corp. by 15.1% in the first quarter. Nationwide Fund Advisors now owns 40,359 shares of the investment management company’s stock valued at $703,000 after buying an additional 5,300 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in TCP Capital Corp. during the first quarter valued at about $706,000. 50.94% of the stock is currently owned by institutional investors and hedge funds.
About TCP Capital Corp.
TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.
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